A firm has $5 million of inventory and $2 million of accounts receivable. Its average daily sales are $100,000 and cost of goods sold (COGS) is $80,000. The company’s payables deferral period (accounts payable divided by daily purchases) is 32 days. What is its cash conversion cycle? a. 25.5 b. 26.0 c. 43.6 d. 50.5

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